Report : North America Endpoint Security Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – Solution (Antivirus, Antispyware, Antimalware, Firewall, Endpoint Device Control, Intrusion Prevention, and Endpoint Application Control), Services (Consulting, Training & Support, and Managed Services), Deployment (Cloud, On-premise), and Vertical (Government and Defense, BFSI, Retail, IT & Telecom, Healthcare, Energy & Utilities, Education, Others)
At 8.8% CAGR, the North America Endpoint Security Market is projected to be worth US$ 8,905.10 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America endpoint security market was valued at US$ 5,355.89 million in 2022 and is expected to reach US$ 8,905.10 million by 2028, registering a CAGR of 8.8% from 2022 to 2028. Surging adoption of BYOD model and substantial growth in number of vulnerable endpoints in devices are the critical factors attributed to the market expansion.
The information technology infrastructure has grown more complicated and heterogeneous over the past five years due to the introduction of new platforms, BYOD (bring your own device) regulations, CYOD (choose your own device) trends, business apps, and other technologies. The trends of BYOD and CYOD are becoming common in business settings due to the rapid developments in mobile computing. As a result of these developments that are implemented by different organizations, employees can access organizational data through mobile devices from anywhere, 24/7. As customers become more tech-savvy and their lifestyles become more mobile, it is no wonder new technologies are making their way into the office. The BYOD movement is gaining popularity among both large and small enterprises. Due to the flexibility of devices, employees have a great deal of control and convenience over when and how they carry out and complete their work. A BYOD strategy can enhance not only employee morale but also productivity, creativity, communication, and cooperation. For years, even before the COVID-19 outbreak, businesses began shifting to BYOD policies. This made practical and interpersonal sense to some extent. On the practical side, users/employees operate more efficiently on their personal devices, such as laptops and mobile devices. On the interpersonal level, users feel more at ease using those technologies, which fosters positive attitudes about their work. However, as organizations adopted this more open-ended and free-form endpoint policy, they began to face additional issues. First, keeping a close eye on all of the devices connected to the network proved difficult; second, delivering a consistent layer of cybersecurity across all of the countless connecting devices was a new issue. As a result of increased cases of cyberattacks due to the adoption of BYOD models, businesses are purchasing endpoint security services to secure devices, such as smartphones, tablets, desktop computers, and laptops, that are present on office premises and those with remote access to the corporate network. The market for endpoint security is anticipated to rise due to the large increase in expenditure on endpoint security solutions and services.
On the contrary, dynamic landscape of the endpoint attacks hurdles the growth of North America endpoint security market.
Based on solution, the North America endpoint security market is segmented into antivirus, antispyware, antimalware; firewall; endpoint device control; intrusion prevention; and endpoint application control. The antivirus, antispyware, antimalware segment held 47.0% market share in 2022, amassing US$ 1,905.22 million. It is projected to garner US$ 2,880.82 million by 2028 to expand at 7.1% CAGR during 2022–2028.
Based on services, the North America endpoint security market is segmented into consulting, training & support, and managed services. The managed services segment held 42.9% market share in 2022, amassing US$ 559.75 million. It is projected to garner US$ 1,128.35 million by 2028 to expand at 12.4% CAGR during 2022–2028.
Based on deployment, the North America endpoint security market is bifurcated into cloud and on-premise. The on-premise segment held 54.5% market share in 2022, amassing US$ 2,918.76 million. It is projected to garner US$ 4,424.02 million by 2028 to expand at 7.2% CAGR during 2022–2028.
Based on vertical, the North America endpoint security market is categorized into government and defense, BFSI, retail, IT & telecom, healthcare, energy & utilities, education, and others. The IT & telecom segment held 26.7% market share in 2022, amassing US$ 1,431.34 million. It is projected to garner US$ 2,506.82 million by 2028 to expand at 9.8% CAGR during 2022–2028.
Based on country, the North America endpoint security market has been segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 82.3% market share in 2022. It was assessed at US$ 4,409.55 million in 2022 and is likely to hit US$ 7,435.75 million by 2028, exhibiting a CAGR of 9.1% during the forecast period.
Key players dominating the North America endpoint security market are AO Kaspersky Lab; Avast Software s.r.o.; Cisco Systems, Inc.; ESET, spol. s r.o.; Fortinet, Inc.; McAfee, LLC; Microsoft Corporation; and Palo Alto Networks, Inc., among others.
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